Warren Buffett has long been a big fan of oil and gas stocks. Over the decades, he's plowed billions of dollars into energy firms. The portfolio of his holding company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), is currently betting more than $30 billion on just two oil companies, one of which it keeps buying more and more of.

Most investors have heard of Chevron (NYSE: CVX). It's one of the largest oil companies in the world. But did you know that Chevron is currently the fifth-largest position in Berkshire's publicly traded portfolio, a position worth around $18.6 billion? It's not a new position, either. Berkshire first started buying shares in the fourth quarter of 2020 when they were valued at roughly $70 per share. But because Buffett's company built its position over time, its average entry price is estimated to be around $130 per share -- just $15 less than the current stock price.

Is this your chance to bet on a major Buffett stock without paying an onerous premium?

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Source Fool.com